Morgan Stanley Landed Its Multibillion-Dollar Whale

Published on July 16, 2026

Captain Ahab never caught Moby Dick, but Morgan Stanley shows how tracking billionaire tech whales like Elon Musk can eventually land a fortune. Not long ago, the bank appeared to have shot itself in the foot as lead lender on the disastrous $44 billion buyout of social media platform Twitter, now known as X.

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Philadelphia Fed Manufacturing Index Jumps to Highest Level Since 2021

July 16, 2026
The Philadelphia Fed manufacturing index showed activity expanded significantly in July, with the index jumping 31.1 points to 41.4. This marks the highest level for the index since November 2021 and was more than triple the forecast of 12.7.

Pending Home Sales Sink 5% in June

July 16, 2026
The National Association of Realtors® (NAR) pending home sales index sank 5.4% in June to 72.5, the lowest level since January.